Arab Today, arab today china approves hsbc\s 94bn ping an stake sale
Last Updated : GMT 20:29:46
Arab Today, arab today
Arab Today, arab today

China approves HSBC\'s $9.4bn Ping An stake sale

Arab Today, arab today

Arab Today, arab today China approves HSBC\'s $9.4bn Ping An stake sale

Shanghai - AFP

Analysts see the deal, which was announced on December 5, as a way for HSBC to shift back towards its traditional banking business and raise funds. In December, HSBC avoided US prosecution by agreeing to pay $1.92 billion in fines and to undertake sweeping reforms of its management and compliance systems in a deal with US regulators and justice authorities. US authorities accused HSBC of intentionally breaking its sanctions on Iran and other countries, and laundering Mexican drug money to build its business. Ping An, China\'s second largest life insurer, has previously said it did not plan any changes in strategy as a result of having a new stakeholder. Ping An hit the headlines last year after the New York Times said that Chinese Premier Wen Jiabao\'s relatives benefited ahead of its 2004 Hong Kong listing by buying stock at a discount. It did not accuse Wen of any wrongdoing. The Chinese insurer said at the time that the paper\'s reporting contained \"serious inaccuracies, facts being distorted and taken out of context, as well as flawed logic\". Ping An Insurance closed up 5.29 percent to 50.77 yuan ($8.15) in Shanghai trading on Friday ahead of the announcement, and rose 1.87 percent to HK$70.85 ($9.13) in Hong Kong. HSBC slid 0.34 percent to HK$88.00 in Hong Kong trading on Friday.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today china approves hsbc\s 94bn ping an stake sale Arab Today, arab today china approves hsbc\s 94bn ping an stake sale

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today china approves hsbc\s 94bn ping an stake sale Arab Today, arab today china approves hsbc\s 94bn ping an stake sale

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday